Schaeffer's Trading Floor Blog

Stems Growing

by 5/25/2005 10:12 AM
Stocks quoted in this article:
The House passed a controversial bill yesterday that would expand public funding for embryonic stem cell research, which President Bush threatened to veto last week. Despite the lows odds of the bill being passed into law given the President's current stance, we've seen a pop in stem cell stock StemCells (STEM) this morning of nearly eight percent. Fitting name for the stock, huh?<

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Stocks quoted in this article:
In Tuesday's trading, there were 69 stocks on the NASDAQ that were able to acheive a new annual high. Below is an abbreviated list of issues that were able to achieve "New Highs" and have a strong Schaeffer's Gold Equity Scorecard (seven or higher).

ACGL $43.66 ... 8.5

IVGN $80.83 ... 8

PRGS $29.30 ... 8

BMHC $62.43 ... 7.5

QSII $58.56 ... 7.5

EXBD $69.86 ... 7

GOOG $256.00 ... 7

KOSP $56.48 ... 7

PLAB $22.77 ... 7

PSTI $18.79 ... 7

RNVS $18.58 ... 7

SSNC $30.73 ... 7

WGII $47.46 ... 7

RRGB $55.49 ... 7

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Stocks quoted in this article:
In Tuesday's trading, there were 81 stocks on the NYSE that were able to acheive a new annual high. Below is an abbreviated list of issues that were able to achieve "New Highs" and have a strong Schaeffer's Gold Equity Scorecard (seven or higher).

LDG $41.85 ... 9

USG $47.53 ... 9

GPN $67.71 ... 8

JBX $41.01 ... 8

KBH $65.35 ... 8

TUP $22.69 ... 7.5

ACL $104.61 ... 7

AGO $20.59 ... 7

BA $62.25 ... 7

FAF $38.69 ... 7

HLT $23.60 ... 7

LMT $65.07 ... 7

SFY $33.01 ... 7

STX $20.81 ... 7

VMC $60.05 ... 7

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Stocks quoted in this article:
Good morning! Nick is taking a well-deserved vacation, so the trading floor will be keeping you up to date on items of interest throughout the rest of the week.
I thought I would lead off with highlights from the newly released short interest figures on the NASDAQ. Here are some quick highlights on Nasdaq 100 Trust and its top 10 holdings:
Nasdaq 100 Trust (QQQQ)- 2% decrease
Microsoft (MSFT) - 22% decrease
Intel (INTC) - 18% increase
Ebay (EBAY) - 35% increase

No major uptick in QQQQ short interest over the last two months, while we have seen upticks in Diamonds and Spyders.<

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Final Figures

by 5/24/2005 4:54 PM
Stocks quoted in this article:

Below are the final numbers for the day...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1194.1 0.2 points 0.02 percent
Dow Jones Industrial Average (DJIA) 10503.7 -20 points -0.2 percent
Nasdaq Composite (COMP) 2061.6 4.9 points 0.24 percent
Russell 2000 (RUT) 613.0 0.1 points 0.01 percent
CBOE Market Volatility Index (VXO) 11.22 -0.22 points -1.9 percent

Earlier this morning I offered that I thought the FOMC might be a non-event and I guess it depends on your perspective as to whether that was true. The major indices did rally off their session lows after the release but ended the day flat.

Overall we see a mild upside bias though most groups were content to finish near breakeven. Semis bucked this tendency as did gold stocks and there was an upside bias in oil related groups.

In regard to the semis, earlier this month I noted that the SMH was breaking above congestion and that it could run back to 35 were major resistance sits. While not quite there yet, the SMH is within striking distance of that resistance so that is something to watch.

This morning I mentioned that I am working out the details for an educational opportunity for readers of this space. I wasn't able to get plans finalized today but this will be coming next week - I hope. Which brings me to my last point for the day and the week...

I will be out of the office for the next three days, but as usual, a multitude of colleagues will be jumping in to keep you abreast of all the activity. I apologize for the time away, but it is for the best as it will allow me to come back Tuesday with renewed energy.

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